Clarification Of Notice To Members 96-60

NASD Creates Two New Exams—Equity Trading And Government Securities

The NASD^® Board of Governors has approved the creation of two new qualification exams for securities industry personnel. The new exams, one for Equity Securities Traders and the other for Government Securities Representatives, join an existing battery of tests that NASD Regulation, Inc. (NASD Regulation^SM) administers to qualify registered representatives to conduct securities business.

Year 2000 Program Addresses Challenges Faced By Automated Systems

Disciplinary Action Corrections

The following corrections pertain to the August 1997 Notices to Members Disciplinary Actions section.

SEC Extends Arbitration Rules

New Customer Support Hotline Number

Those member firms that are enjoying the benefits of the National Association of Securities Dealers, Inc. (NASD^® Member Compliance Support System, Training Analysis and Planning Tool, Version 2.0 (MCSS), will soon benefit from enhanced customer service.

Please note that, as of November 3, 1997, technical questions regarding the MCSS application will be answered by the NASD Regulation, Inc., Customer Support Hotline, at (800) 321-NASD (6273).

Clarification Of Special Notice To Members 97-55

In August 1997, the National Association of Securities Dealers, Inc. (NASD^®) published Special Notice to Members 97-55 entitled "New Membership Application Rules, New Code of Procedure and Other New Disciplinary Rules," which described, among other things, the new Code of Procedure and when such Rules would apply to a disciplinary proceeding. Special Notice to Members 97-55 provided in paragraph c):

NASD Regulation Reminds Members To Develop Year 2000 Plans

Clarification Of Notice To Memers 98-10

NASD Notice to Members 98-10 (January 1998) entitled "Transaction Reporting And Quotation Obligations Under the Fixed Income Pricing System (FIPS)" contained a question and answer concerning compliance officers and the need for firms to report all transactions under The Nasdaq Stock Market, Inc., Fixed Income Pricing System^SM (FIPS^SM), regardless of which desk trades the bonds. The original question and answer were published as:

Closing Of Washington District Office

A decision was made in June of last year to close the Washington, D.C. NASD Regulation^SM District Office. That District Office officially closed its doors on January 31, 1998.